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Illinois delays 0.2% crypto tax by six months after lawsuit
The delay moves the tax start date from Jan. 1 to July 1, 2027, per a Thursday court filing.
Illinois has agreed to postpone implementation of a 0.2% tax on digital assets for six months following lawsuits and industry pushback, according to Cointelegraph.
A crypto and blockchain advocacy group, Digital Chamber, said in a Thursday filing in Sangamon County circuit court that the tax will be shifted from Jan. 1 to July 1, 2027.
Digital Chamber also said it sued Illinois Attorney General Kwame Raoul and Department of Revenue official David Harris in July, arguing the measure was rushed through the legislature and inserted into the state budget.
The dispute centers on Illinois’ Digital Asset Tax and when it will begin collecting from crypto holders.